|Day Low/High||37.27 / 38.11|
|52 Wk Low/High||10.00 / 58.22|
If I was trading I would probably be out of all my speculative gewgaw shorts - like , , , , , etc.
* To this observer they are shorts on any strength My speculative shorts -- (-9%), (-5%), (-5%), (-9%), (-7%), etc. -- continue to stink up the joint.
Yesterday the speculative gewgaws fell apart (e.g., , , and , etc.). Today the larger cap concept stocks are taking a fall ( e.g., , and ).
"You keep on stompin' And my heart is on the floor..." - Lewis Gizzard, You Done Tore Out My Heart and Stomped That Sucker Flat In yesterday's opening missive, "The Market Is a Hard Dog to Keep Under the Porch," I argued that the U.S. stock market ...
Bitcoin peripheral plays - , , , - continue to get led to the woodshed after large losses yesterday. I would consider selling or shorting all of these names.
* The U.S. stock market remains materially overpriced * I would use market rallies to reduce equity exposure * Value is stretched now (financials and energy) while growth valuations are vulnerable to higher interest rates * I am looking towards some...
Today's feature was a (not surprising) mean reversion back from value to (recently depressed) growth. Given the interest rate rise, I suspect there is a limitation or ceiling on growth stocks over the near term. Indeed with Invesco having peake...
Speculative gewgaws I was short - up until Friday - are getting schmeissed in today's trading session - , , , and . The construct of the Russell Index has grown increasingly speculative - the constituent components are indicative of the Index's poo...
The good news is that the number of stocks near intraday highs is expanding rather than contracting so far.
Traders have to move very quickly to stay ahead of the game.
Let's take a look at bitcoin futures and GBTC using Japanese technical analysis techniques.
The stronger the economy, the better it is for earnings, but more likely it will pressure multiples as interest rates rise.
Additional add on longs today - and Additional add on shorts today - , , , and . New short and add on today-
Based on the technical patterns, the risks of being long bitcoin and other cryptocurrencies appear high right now.
This corrective phase may go deeper, but we see some good support.
The longer this continues, the more anxiety there will be about being underinvested.
It's premature to predict that a low has been made, but plenty of stocks are quite washed-out already and are starting to find support.
If you aren't in the favored sectors right now, you are going to miss out.
I believe that the corrective action of the last couple of days should be a platform for some good technical action.
Bitcoin names are hot while Cannabis stocks are jumping back. It is a stock picker's market, right now.
Much of the cannabis money is rotating back into bitcoin plays.
The interest in stock picking keeps the mood very positive, and I don't see that shifting too quickly.
As these two areas go higher with so much strength, they will drag along some other speculative stocks as well.
The worry is being left on the sidelines as the market continues to climb.
If you want to be successful in this market environment, it is imperative that you stay focused on the right things.
Will the small traders be able to sustain the momentum in the other areas that they target?